Australia`s remarkable economic performance during the 1990s has not resulted in a significant convergence of real per capita income, output, and employment levels across the country`s states and territories. This paper explores the role of certain economic rigidities that may have contributed...

Prior actions are measures that need to be implemented prior to Board approval of an IMF-supported program. This paper examines whether such prior actions can signal a willingness to implement reforms, especially when the member's track record is weak. We find some support for this signaling...

This paper examines the role of IMF-supported programs in crisis prevention; specifically, whether, conditional on an episode of intense market pressures, IMF financial support helps prevent a capital account crisis from developing and, if so, through what channels. In doing so, the paper...

"This book provides a timely analysis at the central economic and financial challenges facing Caribbean policymakers and offers broad policy recommendations for promoting a sustained and inclusive increase in economic well-being. A recurring theme in this research is the need for greater...

This paper examines the state of financial development in the Latin America and Caribbean (LAC) region as well as potential growth and stability implications from further development. The analysis suggests that access to financial institutions has expanded notably in the past decade, and the...